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AI Opportunity Report 2018: Financial Services Industry Deep Dive

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The Financial Services industry (not including real estate services), at $1.5 trillion in GDP, is a significant piece of the United States’ $20 trillion economy. Its workforce is well paid ($70,000 median annual salary versus $57,000 for the average U.S. worker) and knowledge-intensive. It ranks near the top of all NAICS codes for both breadth and depth of AI adoption.

This document, AI Opportunity Report 2018: Financial Services Deep Dive focuses on AI penetration and expected investment by each Financial Services subsector, drilling down to the types of AI being deployed commercially and the degree to which workers are presently exposed to AI that is already available. Additionally, this report takes a task-based approach to quantify the efficiencies AI can bring to the subsectors of the Financial Services industry and the dollar-value of these efficiencies. The “2018 AI Preparedness Survey” identified specific task-related pain points where AI can bring immediate business value, and those are quantified in this report.

The data source for this report is Optimized Workforce’s “2018 AI Preparedness Survey” – a primary research effort that collected data from roughly 10,000 U.S. workers. The survey sheds some light on AI penetration rates across industries and job functions, the different types of AI technologies workers are using today or preparing to invest in in 2019, and the readiness of workers to function in tandem with AI.

Key findings include:

More than 45% of U.S. Financial Services workers are engaging with some form of AI today.

Optimized Workforce surveyed more than 10,000 U.S. workers to understand the AI technologies they work with today and the technologies they will deploy in the coming year. This report presents an industry-by-industry breakdown of the technologies in place at the department level — by technology type — and presents detailed, task-level findings on how employees spend their time and how much of that time is likely to be automated through AI and similar technologies.

This document, AI Opportunity Report 2018: Which Industries Are Investing in AI? Which Ones Should Be? focuses on AI penetration and expected investment by industry, drilling down to the types of AI being deployed commercially and the degree to which workers are presently exposed to the AI that is available. Additionally, this report takes a task-based approach to quantify the efficiencies AI can bring to each industry and the dollar-value of these efficiencies.

Key findings include:

Nearly one-third of U.S. workers are engaging with some form of AI today.

Optimized Workforce surveyed more than 10,000 U.S. workers to understand the AI technologies they work with today and the technologies they will deploy in the coming year. This report presents an industry-by-industry breakdown of the technologies in place at the department level — by technology type — and presents detailed, task-level findings on how employees spend their time and how much of that time is likely to be automated through AI and similar technologies.

This document, AI Opportunity Report 2018: Which Industries Are Investing in AI? Which Ones Should Be? focuses on AI penetration and expected investment by industry, drilling down to the types of AI being deployed commercially and the degree to which workers are presently exposed to the AI that is available. Additionally, this report takes a task-based approach to quantify the efficiencies AI can bring to each industry and the dollar-value of these efficiencies.

Key findings include:

Nearly one-third of U.S. workers are engaging with some form of AI today.

The Professional, Scientific and Technical Services industry, at $2.1 trillion in GDP, is a significant piece of the United States’ $20 trillion economy. Its workforce is highly paid ($80,000 median annual salary versus $57,000 for the average U.S. worker) and knowledge-intensive. It ranks near the top of all NAICS codes for both breadth and depth of AI adoption.

This document, AI Opportunity Report 2018: Professional Services Deep Dive focuses on AI penetration and expected investment by Professional Services subsector, drilling down to the types of AI being deployed commercially and the degree to which workers are presently exposed to the AI that is available. Subsectors explored include: Accounting Services, Advertising/Marketing or PR Services, Engineering Services, IT Consulting and Services, Legal Services, and Management or Technical Consulting Services.

The primary source for this report is Optimized Workforce’s “2018 AI Preparedness Survey” – a primary research effort that collected data from roughly 10,000 U.S. workers. The survey sheds some light on AI penetration rates across industries and job functions, the different types of AI technologies workers are using or preparing to invest in in 2019, and the readiness of workers to function in tandem with AI. Additionally, this report takes a task-based approach to quantify the efficiencies AI can bring to the subsectors of the Professional Services industry and the dollar-value of these efficiencies.

Key findings include:

More than 40% of U.S. Professional Services workers are engaging with some form of AI today.

The Professional, Scientific and Technical Services industry, at $2.1 trillion in GDP, is a significant piece of the United States’ $20 trillion economy. Its workforce is highly paid ($80,000 median annual salary versus $57,000 for the average U.S. worker) and knowledge-intensive. It ranks near the top of all NAICS codes for both breadth and depth of AI adoption.

This document, AI Opportunity Report 2018: Professional Services Deep Dive focuses on AI penetration and expected investment by Professional Services subsector, drilling down to the types of AI being deployed commercially and the degree to which workers are presently exposed to the AI that is available. Subsectors explored include: Accounting Services, Advertising/Marketing or PR Services, Engineering Services, IT Consulting and Services, Legal Services, and Management or Technical Consulting Services.

The primary source for this report is Optimized Workforce’s “2018 AI Preparedness Survey” – a primary research effort that collected data from roughly 10,000 U.S. workers. The survey sheds some light on AI penetration rates across industries and job functions, the different types of AI technologies workers are using or preparing to invest in in 2019, and the readiness of workers to function in tandem with AI. Additionally, this report takes a task-based approach to quantify the efficiencies AI can bring to the subsectors of the Professional Services industry and the dollar-value of these efficiencies.

Key findings include:

More than 40% of U.S. Professional Services workers are engaging with some form of AI today.

The Manufacturing industry, at $2.4 trillion in GDP, is a major piece of the United States’ $20 trillion economy. Its workforce earns slightly less than the median wage ($52,000 median annual salary versus $57,000 for the average U.S. worker), and it ranks second among all NAICS workforces for AI exposure.

The primary source for this report is Optimized Workforce’s “2018 AI Preparedness Survey” – a primary research effort that collected data from roughly 10,000 U.S. workers. The survey sheds some light on AI penetration rates across industries and job functions, the different types of AI technologies workers are using or preparing to invest in in 2019, and the readiness of workers to function in tandem with AI. Additionally, this report takes a task-based approach to quantify the efficiencies AI can bring to the subsectors of the Professional Services industry and the dollar-value of these efficiencies.

Key findings include:

More than 46% of U.S. Manufacturing workers are engaging with some form of AI today.

Robotics and document classification technology lead AI adoption.

Plastics and Rubber manufacturers are the most aggressive with AI deployment.

AI vendors could bring roughly $76 billion in efficiency to the Manufacturing industry this year (roughly 13% of payroll).

The Manufacturing industry, at $2.4 trillion in GDP, is a major piece of the United States’ $20 trillion economy. Its workforce earns slightly less than the median wage ($52,000 median annual salary versus $57,000 for the average U.S. worker), and it ranks second among all NAICS workforces for AI exposure.

The primary source for this report is Optimized Workforce’s “2018 AI Preparedness Survey” – a primary research effort that collected data from roughly 10,000 U.S. workers. The survey sheds some light on AI penetration rates across industries and job functions, the different types of AI technologies workers are using or preparing to invest in in 2019, and the readiness of workers to function in tandem with AI. Additionally, this report takes a task-based approach to quantify the efficiencies AI can bring to the subsectors of the Professional Services industry and the dollar-value of these efficiencies.

Key findings include:

More than 46% of U.S. Manufacturing workers are engaging with some form of AI today.

Robotics and document classification technology lead AI adoption.

Plastics and Rubber manufacturers are the most aggressive with AI deployment.

AI vendors could bring roughly $76 billion in efficiency to the Manufacturing industry this year (roughly 13% of payroll).